CEO of COCOBOD Has Written an Open Letter to Mahama Over Comments on Prices of Cocoa

The Ghana Cocoa Board (COCOBOD) has strongly criticized former President John Dramani Mahama for his criticism of the government’s decision to raise the price of a cocoa bag to GH₵1,300. Mahama had called the government “insensitive” to farmers’ concerns, arguing that the increase was insufficient.

In a statement issued on September 12, COCOBOD CEO Joseph Boahen Aidoo pointed out that Mahama should be well-acquainted with the process for determining the cocoa producer price. Aidoo clarified that during the 2023/24 crop season, cocoa had been sold internationally between October 2022 and March 2023 at prices ranging from $2,200 to $2,400 per tonne.

Aidoo expressed surprise that Mahama had incorrectly based his calculation on the current international market price of cocoa at $3,600 per tonne in his recent remarks. COCOBOD further explained that a significant portion of the 2023/24 crop had been sold before April 2023 when the international cocoa price began to rise.

In essence, COCOBOD rebuked Mahama for his criticism, emphasizing that the cocoa prices are determined through a process that he should be familiar with, and the international market dynamics were not accurately represented in his assessment.

Read the full letter